{"id":50486,"date":"2023-11-16T22:27:35","date_gmt":"2023-11-16T22:27:35","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/economy-running-at-two-speeds-business-association"},"modified":"2023-11-16T22:46:52","modified_gmt":"2023-11-16T22:46:52","slug":"economy-running-at-two-speeds-business-association","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/economy-running-at-two-speeds-business-association","title":{"rendered":"Economy running at two speeds \u2013 business association"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Mozambique\u2019s business robustness index, presented on Thursday in Maputo by the CTA, rose in the third quarter, after having stagnated in the previous two periods, but businesspeople warned that the Mozambican economy is still at \u201ctwo speeds\u201d.<\/p>\n

\u201cThis performance, although higher than the previous quarter, is quite fragile,\u201d said the president of Mozambique\u2019s Confederation of Economic Associations, Agostinho Vuma, when presenting the results of this index, measured quarterly by the CTA.<\/p>\n

This index, he explained, rose to 29 points in the third quarter, compared to 28 in the previous one, reflecting a \u201cslight improvement, after stagnation\u201d in the previous two quarters.<\/p>\n

\u201cThe assessment of this last quarter undoubtedly took place in a context in which the economy is travelling at two speeds. One speed is driven by the major projects in the extractive sector, which is registering extraordinary growth (…) The other speed is driven by the traditional sectors of our economy, where there is very slight, if not negative, growth, particularly in manufacturing, fishing and construction\/real estate,\u201d said Vuma.<\/p>\n

Among the reasons for this performance, he pointed to the late start to agricultural trading, \u201cdue to the effects of the floods that affected access roads and the commercial network that transports these products\u201d, which also had consequences in terms of \u201chigh logistics costs\u201d.<\/p>\n

Another justification is the \u201cincrease in financial charges with banks\u201d by entrepreneurs, namely high interest rates, as a result of the change in monetary policy by the Bank of Mozambique.<\/p>\n

Analysing the index, Agostinho Vuma also pointed out that in this period hiring by companies was essentially limited to part-time or temporary contracts.<\/p>\n

Businesspeople also expressed their expectation with the announcement that construction of the liquefied natural gas plant by French oil company TotalEnergies in Cabo Delgado, suspended in 2021 after the terrorist attacks in the region, will resume this year, and hoped that Mozambican companies would join in.<\/p>\n

With the new timetable now on the table, the start of gas production in a 20 billion dollar project could take place in 2028, according to TotalEnergies.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Mozambique\u2019s business robustness index, presented on Thursday in Maputo by the CTA, rose in the third quarter, after having stagnated in the previous two periods, but businesspeople warned that the Mozambican economy is still at \u201ctwo speeds\u201d. \u201cThis performance, although higher than the previous quarter, is quite fragile,\u201d said the president of […]<\/p>\n","protected":false},"author":84,"featured_media":50484,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-50486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nEconomy running at two speeds \u2013 business association - Mozambique<\/title>\n<meta name=\"description\" content=\"Mozambique\u2019s business robustness index, presented on Thursday in Maputo by the CTA, rose in the third quarter, after hav ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/economy-running-at-two-speeds-business-association\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy running at two speeds \u2013 business association\" \/>\n<meta property=\"og:description\" content=\"Mozambique\u2019s business robustness index, presented on Thursday in Maputo by the CTA, rose in the third quarter, after hav ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/economy-running-at-two-speeds-business-association\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-16T22:27:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-16T22:46:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/11\/sm_1700162039.879573.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"875\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/economy-running-at-two-speeds-business-association#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/economy-running-at-two-speeds-business-association\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Economy running at two speeds \u2013 business association\",\"datePublished\":\"2023-11-16T22:27:35+00:00\",\"dateModified\":\"2023-11-16T22:46:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/economy-running-at-two-speeds-business-association\"},\"wordCount\":356,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/economy-running-at-two-speeds-business-association#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/11\/sm_1700162039.879573.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/economy-running-at-two-speeds-business-association#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/economy-running-at-two-speeds-business-association\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/economy-running-at-two-speeds-business-association\",\"name\":\"Economy running at two speeds \u2013 business association - 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